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Makes RapidResponse, cloud-based supply-chain planning and control-tower software for large manufacturers.
Makes RapidResponse, cloud-based supply-chain planning and control-tower software for large manufacturers.
Earns mostly from recurring subscriptions to its cloud software, signed for several years with large manufacturers, with implementation and consulting services as a smaller add-on. Once its planning models are built around a customer's supply chain, the software is hard to replace, so contract renewals matter as much as new customers.
Moat: narrow (switching costs, installed base). Deeply embedded in customers' planning processes; replacing it disrupts core supply-chain operations.
Headquarters: Ottawa, Canada · Founded: 1984 · Employees: 1,837
Size Kinaxis (KXS.TO) is a Canada Information Technology company (Packaged Software) with a market value of $4.01B, the 135th largest of 420 Canada companies the cockpit tracks. Shares closed at C$206.69 on 6 Nov 2026.
Performance Over six months the shares gained 35.1%, against +1.8% for the median peer and +5.2% for the Canada market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 16.0% over the last twelve months (peer median +24.0%); the operating margin is 17.8% (peer median 5.7%).
Valuation It trades at 30.9× forward earnings against a peer median of 23.1× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 50.7 points above its cost of capital (7.1% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$833M | C$766M | C$662M | C$576M | C$478M |
| Revenue growth | — | +16% | +15% | +21% | — |
| Gross profit | C$519M | C$464M | C$373M | C$322M | C$282M |
| EBITDA | C$194M | C$157M | C$66.1M | C$66.5M | C$78.7M |
| Net income | C$120M | C$98.8M | C$76,718 | C$13.6M | C$26.1M |
| Free cash flow | C$208M | C$157M | C$130M | C$104M | C$8.16M |
| Capital expenditure | C$5.48M | C$7.95M | C$6.19M | C$3.10M | C$23.8M |
| Total debt | C$63.1M | C$65.8M | C$70.4M | C$68.3M | C$77.2M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kinaxis KXS.TO | $4.01B | +35% | +16% | 18% | 30.9× | 12.9% |
| Sap SAP.DE | $276B | +49% | +8% | 29% | 29.8× | 14.9% |
| Oracle ORCL | $351B | -41% | +22% | 34% | 13.6× | n/a |
| Dassault Systemes DSY.PA | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% |
| Wisetech Global WTC.AX | $10.3B | +15% | +71% | 31% | 32.6× | 30.1% |
| Descartes Systems DSG.TO | $8.10B | +32% | +12% | 33% | 37.9× | 4.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KXS.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.6% | +3.5% | 5th highest of 21 |
| 6-month return | +35.1% | +1.8% | 5th highest of 20 |
| Distance from 52-week high | -0.3% | -40.8% | highest of 21 |
| Revenue growth (TTM) | +16.0% | +24.0% | 6th lowest of 21 |
| Operating margin | 17.8% | 5.7% | 4th highest of 20 |
| Forward P/E | 30.9× | 23.1× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 12.9% | 20.8% | 7th least demanding of 14 |
| Growth delivered (Del g) | +20.6% | +19.0% | 7th highest of 14 |
| Hurdle (Req g minus delivered) | -7.7 pp | -4.6 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | +50.7 pp | -4.2 pp | 2nd highest of 16 |
| EV / EBITDA | 27.1× | 14.4× | 4th most expensive of 10 |
| Net debt / EBITDA | -1.9× | 0.0× | 5th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kinaxis KXS.TO | Canada | $4.01B | +35% | +16% | 18% | 30.9× | 12.9% | +20.6% |
| Momenta Global 6880.HK | Hong Kong | $4.02B | n/a | +82% | -32% | n/a | n/a | n/a |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 17.4× | 20.8% | +25.3% |
| DLocal DLO | United States | $3.94B | +2% | +57% | 18% | 14.4× | 2.4% | +60.0% |
| Magnite MGNI | United States | $3.93B | +94% | +8% | 16% | 20.9× | 31.9% | +26.4% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| Life360 LIF | United States | $3.86B | +8% | +34% | 1% | 33.9× | n/a | n/a |
| Thunder Software Technology 300496.SZ | China | $3.83B | -13% | +40% | 6% | 40.0× | n/a | n/a |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |
| Core Scientific CORZ | United States | $3.78B | -49% | +26% | -31% | n/a | n/a | n/a |
| Geovis Technology 688568.SS | China | $3.78B | -45% | -64% | -70% | n/a | n/a | n/a |
| G-Bits Network Technology (Xiamen) 603444.SS | China | $3.77B | -14% | +35% | 40% | 12.5× | -0.9% | +17.7% |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 17.8× | -2.3% | +11.9% |
| Koei Tecmo 3635.T | Japan | $3.74B | +15% | +19% | 43% | 15.1× | -5.7% | +7.9% |
| Glory View Technology 301396.SZ | China | $3.72B | -49% | +53% | n/a | 25.3× | n/a | n/a |
| monday.com MNDY | United States | $3.72B | +22% | +24% | 3% | 14.2× | 23.6% | +50.2% |
| Appian APPN | United States | $3.70B | +135% | +21% | 4% | 41.6× | 42.9% | +19.0% |
| HUB24 HUB.AX | Australia | $4.39B | -4% | +23% | 29% | 42.6× | 35.6% | +35.7% |